Don't Worry About AMEX's Bank Yank Clause

Basically, the language was just an add-on to a section that said that if there is some kind of error or dispute about a debit, and AMEX gives you the credit temporarily back to your bank account, and it turns out the debit was okay in the first place, then they will take it back. Nothing about that is changing, just now you explicitly agree that that’s okay.

Here’s the old clause:

If we determine that there was no error, we will send you a written explanation within three business days after we finish our investigation. Upon your request we will provide you with copies of the documents that we used in our investigation. If we have provisionally recredited your Bank Account during the investigation and determine that there was no error, we will notify you of the date on which we will redebit your Bank Account, and the amount to be redebited.

Just add, “You authorize us or an agent to debit your Bank Account for this amount.” to the end.

The rest of the new terms of service changes, with some of the increased APRs and fees may still be cause of concern for some customers.